Do you pay taxes on Dex?

I'm curious about the tax implications of using decentralized exchanges, or DEXs, for cryptocurrency transactions. Do I need to pay taxes on the profits I make from trading on a DEX? If so, how does the tax process work and what are the key things I need to know to ensure I'm compliant with the relevant tax laws? Can you provide a brief overview of the tax implications of using DEXs and any tips for staying on the right side of the law?